Terms and conditions of the sale have not been revealed yet and the sale will have to be approved by European competition authorities and customary closing conditions.
Thanks to investment from its majority owner Oaktree Capital, Nordenia was able to grow its sales by almost 10 per cent in 2011 to reach €881m, while its EBITDA margin amounted to €101m. It specializes in a range of fast moving consumer goods categories, including cosmetics, healthcare and food.
Company will remain headquartered in Germany
Once the deal has been finalized it has been confirmed that the company will continue to be headquartered in Greven, Germany, and will also be headed up by the current executive management team, while becoming a division of the Mondi Group.
In a joint statement attributed to Mondi CEO Peter Oswald and Nordenia CEO Ralph Landwehr, the two companies emphasized the benefits of the potential merger and the synergies that such a move might bring.
The statement said that the merger would lead to the opportunity to create a leading consumer packaging business, while also tapping into a stronger research and development channel able to offer wider product range to its customers.
Manufacturing, printing, coating and films
Nordenia’s core capabilities in the consumer packaging sector are manufacturing, printing, coating and processing of films, and stresses innovation and technology as one of its core strengths.
While the company has a number of product portfolios targeting specific industry categories, it also has two clear business divisions – Consumer Flexible Packaging and Advanced Film Components.
It has five manufacturing sites and businesses in Germany, two in Spain, one in Poland, two in Hungary, two in Russia, two in the United States, two in China and representative offices in Malaysia and Australia.